Sell a Business Tips
Selling a Shaved Ice Business
A good business is about more than dollars and sense. To make your shaved ice business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a shaved ice business.
Undaunted by economic conditions, many shaved ice business sellers are achieving their sale goals through deliberate sale strategies.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your shaved ice business's physical assets. But you'll need to commission your own appraisal before you put your shaved ice business on the market to arm yourself with information for the negotiation phase. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your shaved ice business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Average Preparation Time
There are no effective shortcuts for selling a shaved ice business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a shaved ice business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a shaved ice business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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